An acquirer of mortgage servicing rights has agreed to pay $1.5 million and to stop committing further violations to resolve charges of misstating net income and misleading the Securities and Exchange Commission about its relationship with servicer Ocwen Financial Group. The settlement agreement between the SEC and Home Loan Servicing Solutions is the latest twist in the long-running federal and state investigations of Ocwen and its relationships with affiliated companies, which have included HLSS, Altisource Residential, Altisource Portfolio Solutions and Altisource Asset Management. The common thread in all five companies is...
When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”
The flow of FHA purchase mortgages jumped 37.7 percent from the second to the third quarter, and VA purchase mortgages rose 37.9 percent over the same period.
Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.
On the conventional product, the loans have an average age of 23 months and delinquencies in the 3.0 percent range. Almost 80 percent of the loans are in California.
New issuance of residential MBS and non-mortgage ABS fell slightly during the third quarter of 2015, but the market remained well ahead of the pace set last year. A new Inside MBS & ABS analysis shows a total of $396.99 billion of MBS and ABS were issued during the third quarter, down 6.1 percent from the previous quarter. That total does not include commercial MBS or multifamily securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. On a year-to-date basis, total MBS and ABS issuance was...[Includes two data tables]
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